The Council of Ministers of Azerbaijan has amended the law on payments by betting companies for the development of sports and physical culture.
Prime Minister Ali Asadov personally signed the decree. The Decree regulates the formula for calculating the funds allocated by betting operators for the implementation of support for sports and projects of social significance.
If the bookmaker’s total turnover during a calendar year does not exceed AZN 100 million ($58.8 million), the target deduction is calculated based on 1% of the operator’s turnover for each month. If a betting company shows different results in different months, for example, if in one period of the year its turnover reaches 100 million manats (58.8 million US dollars), and in another – no, then the payment for sports promotion is 1% of the monthly turnover up to 58.8 million US dollars and 2.5% of the monthly turnover over 58.8 million US dollars calculated according to the % scheme.
If a bookmaker’s turnover exceeds AZN 100 million ($58.8 million) during a calendar year, its target deduction is 2.5% of the business month’s turnover.
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